PANews reported on May 6th that according to The Block, Israeli social investment platform eToro disclosed details of its New York IPO, planning to issue 10 million Class A common shares at $46-50 per share, raising up to $500 million with a target valuation of $4 billion. Among these, 5 million shares will be sold by existing shareholders, with underwriters able to additionally subscribe to 1.5 million shares in overallotment. A consortium of seven institutions including Goldman Sachs, UBS, and Citigroup will underwrite the IPO, with BlackRock indicating its intention to subscribe to shares worth $100 million. The company's stock will be listed on the Nasdaq Global Select Market under the ticker "ETOR".
Earlier today, Robinhood competitor eToro applied for a US IPO.
